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Structural and design issues in the Russian electricity reforms - a Policy Note (Russo)

The Russian electricity reform program is undoubtedly the largest and most ambitious ever undertaken, both in terms of the size of the industry being restructured, and in terms of the breadth, and depth of the changes being made or planned. Moreover, no other reform program has begun in such difficult circumstances for such a large system in one integrated effort. The broad policy conclusions of the analysis in this paper are summarized as follows: 1) The planned reform process is complex and will take a long time to complete, partly because any process for getting to the target model from where Russia is now, will be complex and lengthy, but also because the plan sets some intermediate objectives that add to the complexity and length of the process. The principal intermediate objectives that should be reconsidered are: a) retail competition for small consumers; b) the Creation of Large Generation Companies; and, 3) the transitional 5-15market- so-called because 5-to-15 percent of energy is to be traded in it. 2) The Reform Schedule for the Russian reforms calls for most of the significant business restructuring and market implementation to be completed some time in 2006, with only some share swapping required after that, to reach the target ownership levels by 2008. If this schedule is met with slippage of no more than (say) one year, Russia will have accomplished more, faster, than almost any other major electricity reform program has done. Perhaps this is possible in the Russian context, but those in charge of the reforms should closely watch progress against schedule, and be prepared to adjust schedules and expectations if and when necessary.

Detalhes

  • Data do documento

    2004/06/01

  • TIpo de documento

    Documento de Trabalho

  • No. do relatório

    36090

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Federação Russa,

  • Região

    Europa e Ásia Central,

  • Data de divulgação

    2010/07/01

  • Disclosure Status

    Disclosed

  • Nome do documento

    Structural and design issues in the Russian electricity reforms - a Policy Note

  • Palavras-chave

    approach, assets, balance, book value, Capacity Payments, capital markets, coal, competition in electricity, conflict of interest, consumer groups, Consumers, contract prices, corporate entities, corporate entity, corporate law, distribution assets, distribution companies, Distribution Company, distribution facilities, District Heat, district heating, economic efficiency, Electricity, Electricity Distribution, Electricity Generation, Electricity Law, Electricity Reforms, Electricity Sector, Electricity Supply, electricity system, Energy Services, fair, federal power, Gas, generating capacity, generation assets, generation capacity, generators, Grid Company, Heat Supply, heat transmission, holding companies, holding company, hot water, hydro power, hydro power plants, Hydroelectric Power, Hydroelectric Power Plant, hydroelectric power plants, infrastructure assets, ITC, joint stock companies, joint stock company, large companies, legal entities, local distribution, locational marginal prices, majority shareholder, Marginal Cost, marginal losses, market power, market price, market prices, market value, marketing, minority shareholder, minority shareholders, monopolies, monopoly, municipalities, Nuclear Power, Nuclear Power Plant, nuclear power plants, open access, organizational structure, organizational structures, pipeline, pipeline systems, Power, Power Company, Power Sector, Power System, premium prices, price variations, private capital, private ownership, protection of minority shareholders, Regulatory Regime, reorganization, Retail, Retail Competition, Retail Prices, sale, sales, service companies, shareholder, shareholder value, shareholders, smaller companies, Spot Market, spot prices, subsidiaries, subsidiary, subsidiary companies, subsidiary corporation, Supplier, suppliers, supply functions, target market, Thermal Power, Thermal Power Plant, thermal power plants, transmission assets, transmission constraints, transmission facilities, transmission grid, transmission organization, transmission pipelines, transmission system, Union, valuation, volatility, Voltage, wholesale competition, Wholesale Electricity, Wholesale Electricity Market, Wholesale Market, wholesale price,

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